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During 2018 Kora incurs the following expenses with respect to her beachtront condominium in Hawaii Click the icon to view the data.) During 2018 Kora
During 2018 Kora incurs the following expenses with respect to her beachtront condominium in Hawaii Click the icon to view the data.) During 2018 Kora used the condominium 120 days for vacation She rented it out for a total of 100 days generating a total gross income of 58 400 Read the requirements Requirement a. What are the total amounts of deductions for and from AGI that Kora may take during 2018 with respect to the condominium using the IRS allocation method? (For purposes of this problem. use the allocation formula set forth by Sec 280A Enter for zero amounts Hem For AGI From AG Insurance Repairs and maintenance Interest on mortgage Property taxes Utilities UIE Expense Item Amount r Insurance $ 620 740 Repairs and maintenance 2,600 Interest on mortgage Property taxes Utilities 1,800 1,600 Depreciation 7,600 Done Requirement b. What is the effect on the basis of the condominium? The basis of the condominium is
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